This article examines whether price indexes, such as the CPI, the PPI, and the implicit price deflator for GDP (PGDP), tell a consistent story about the general price level and inflation rate. To this end, Zsolt Becsi analyzes the time series properties of these indexes. He finds that the PGDP...

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia. 20th Annual Hyman P. Minsky Conference, April 14, 2011, New York, New York.

Federal Reserve Bank of Cleveland President Sandra Pianalto explains why price stability is essential for maximum employment and how the adoption of a numerical target for inflation may improve the central bank’s ability to achieve both objectives. Find the essay, along with Frequently Asked...

This public policy brief examines the relationship between trend inflation and commodity price increases and finds that evidence from recent decades supports the notion that commodity price changes do not affect the long-run inflation rate. Evidence from earlier decades suggests that effects on...

Remarks at the State University of New York at New Paltz, New Paltz, New York.

Remarks at the Dutchess County Regional Chamber of Commerce, Fishkill, New York.

Remarks by President Dudley at the Brooklyn Chamber of Commerce Brooklyn Borough Hall, Brooklyn, New York.